The registry for the .eu top level domain (TLD) received 390,000 applications in the first 100 minutes after registration was opened to all residents of the European Union, E.U., Information Society and Media Commissioner Viviane Reding said Friday.

“At this speed, .eu will become a real competitor to .com,” Reding said in a news conference Friday.

The .eu registry operator, Eurid vzw, has approved a number of registrars around the E.U. to handle applications.

Reding said the price of a .eu TLD will vary, and she advised European residents to shop around for the best deal.